Atlanta Asset Protection Attorneys
Accessible & Knowledgeable Legal Team on Your Side
Our Atlanta estate planning lawyers at Meyring Law Firm offer advanced asset protection strategies. We can assist you to avoid over-taxation or losses from lawsuits with a customized estate plan. A comprehensive estate plan works to pass your wealth on to your heirs, while asset protection does more: these strategies allow you to protect more of your assets during your lifetime.
How Does Asset Protection Work?
Asset protection works to insulate your assets from devastating lawsuits that could lead to substantial losses. You may think that asset protection strategies are only for the wealthy, but if you own a home, asset protection should be part of your estate plan.
Types of Asset Protection Strategies
Asset protection allows you to control your assets, while not legally owning them. This is accomplished by establishing:
- Limited Partnerships: A family limited partnership can be established to shelter wealth while allowing you to retain control over the assets.
- Limited Liability Companies: An LLC is a business entity, entirely separate from the owners. Your personal assets are protected should an LLC be a defendant in a lawsuit.
- Domestic Asset Protection Trusts: This type of trust is an irrevocable trust established for your own benefit that can protect your assets from creditors while allowing you to retain access to the assets.
- Third-Party Discretionary Trusts: These trusts are often called “spendthrift” trusts and allow a relative to create a trust fund with certain restrictions, which can provide a measure of financial protection if you have concerns that the money you pass on to a loved one may be spent recklessly.
Why Choose Meyring Law Firm in Atlanta?
At Meyring Law Firm, our approach is very different from many law firms. We have a strong reputation among our peers in the legal community and with our clients. We take our duty to the people we serve very seriously and work closely with them in estate planning and asset protection, which go hand in hand.